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 Accounting General interview questions  Accounting General Interview Questions (2808)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
Q.Goods worth Rs.5000 destroyed in fire? Insurance claim 
received RS.4000 for the goods lost? Loss of Rs.1000 pass 
the entries in the books of accounts?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
1) GOODS LOSS BY FIRE A\C DR. 5000
TO GOODS A\C 5000

2) CASH A\C DR. 4000
LOSS A\C DR. 1000
TO GOODS A\C 5000
 
Is This Answer Correct ?    32 Yes 11 No
Himanshu Singhal
 
Answer
# 2
Loss by fire(Goods)A/C Dr. 5,000
To Goods A/C 5,000

(Being goods lost by fire)

P/L A/C Dr. 5,000
To Loss by fire(Goods)A/C 5,000

(Being loss t/fd to p/l a/c)

Bank A/c Dr. 4,000
To Insurance claim A/C 4,000
(Being insurance claim received)

Insurance Claim A/C Dr. 4,000
To P/L A/C 4,000
(Being insurance claim t/fd to P/L A/C)
 
Is This Answer Correct ?    7 Yes 1 No
Sonu
 
 
 
Answer
# 3
Goods destroyed by fire a/c Dr 5000
To inventory a/c Cr 5000
(Being goods destroyed by fire)

Bank a/c Dr 4000
Loss on goods destroyed by fire Dr 1000
To goods destroyed by fire Cr 5000

Being insurence claim received
 
Is This Answer Correct ?    4 Yes 1 No
Nandish
 
Answer
# 4
p&l a/c dr.1000
cash/bank a/c dr.4000

To goods a/c cr. 5000
 
Is This Answer Correct ?    3 Yes 3 No
S K M
 
Answer
# 5
Loss by theft Account Dr 1000
Cash/Bank A/c Dr 4000
To Purchase Account 5000
 
Is This Answer Correct ?    0 Yes 3 No
Ranjit
 
Answer
# 6
Inventory A/C Dr 5000
To Insurance clamied receved A/c 4000
To Loss of inentory A/C 1000
---------------------------------------------
 
Is This Answer Correct ?    3 Yes 10 No
Syedmazhar
 
Answer
# 7
Bank/cash A/c Dr 4000
Drawings A/c Dr 1000
To goods A/c Cr. 5000
 
Is This Answer Correct ?    1 Yes 20 No
Mukesh
 

 
 
 
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What is the difference between accounts & Finance? Weber 1
what is cash on account? DuPont 1
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What is Goodwill?   2
What is PBG & ABG in term of Contract for supply? Jubilant-Organosys 2
what is depreciation ? and its entries ? Genpact 6
5. What would be the pay-back period of a project requiring initial investment of $10,000/- and expected to generate a cash flow of $ 2,000/- per year?   1
What is the criteria to calculate GDP growth?   1
why do we add the net profit in the balance sheet   2
if we have received the bill of telephone and electricity for the period 16th march to 15 april ,what will be the entry for the year ended 31st march '10?will there be any provision entry for this   3
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
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